Karachi-The Board of Directors of Soneri Bank Limited, in their 179th meeting held in Karachi on 26th August 2020, approved the Bank’s condensed interim financial statements for the half year ended 30 June 2020.

The Bank posted profit before tax (PBT) of Rs1,931 million and profit after tax (PAT) of Rs. 1,129 million for the half year ended June 2020, as compared to Rs1,633 million and Rs. 975 million respectively in the same period last year. The Bank’s EPS was recorded at Rs1.0243 per share for the current reporting period, as compared to Re. 0.8844 for the comparative prior period. Profit before provisions and taxation was reported at Rs. 2,960 million for 1H 2020, indicating an impressive growth of 207 per cent from the level of Rs964 million for the corresponding prior period.

 The Bank’s net advances portfolio stood at Rs198,542 million as at 30 June 2020, 3 per cent lower than the year end 2019 level. Non-performing loans decreased from Rs. 10,903 million on 31 December 2019 to Rs. 10,682 million on 30 June 2020. 

Net investments witnessed a volumetric increase of Rs47,761 million or 27 per cent from the yearend balance of Rs177,056 million, ending at Rs224,817 million as at 30 June 2020. The Deposit portfolio registered a healthy growth of Rs. 21,371 million or 7.07 per cent when compared to 31 December 2019, ending at Rs323,454 million as at 30 June 2020. The Board of Directors recognized and appreciated the efforts of the management in delivering steady performance amidst a challenging environment. In particular, the Board appreciated the services of the Bank’s front line staff, who have helped ensure continuity of services for our customers during the uncertain times following the COVID-19 outbreak. The Board remains confident that the Bank shall continue to protect and serve the interest of all stakeholders by fulfilling the growing banking needs of our society, and focusing on financial inclusion and customer satisfaction.